Hindustan Construction Company (NSE: HCC) is on a winning streak, climbing higher for the second straight day after its ₹2,470 crore contract win with Tata Power. The stock, which jumped 15% yesterday, is still trading in the green today, indicating strong buying interest. Currently, HCC is testing the ₹28.34 resistance level, and if momentum holds, a move toward ₹35+ could be on the horizon.
Why is HCC Stock Rising?
The infrastructure deal with Tata Power has given HCC a major boost, strengthening its position in India’s booming construction sector. This contract adds to HCC’s growing order book, providing stable revenue opportunities for the future.
Investors see this as a sign of strong business growth, leading to an increase in institutional and retail buying. With India’s focus on expanding infrastructure and power projects, HCC is now in a prime position to benefit from the country’s economic expansion.
Technical Breakout in the Charts
- Current Price: ₹27.51, testing ₹28.34 resistance after a sharp uptrend.
- Resistance Levels:
- ₹28.34 – Immediate hurdle; a breakout could push prices toward ₹35.21.
- ₹41.45 – ₹47.90 – Major upside targets if momentum sustains.
- Support Levels:
- ₹22.53 – Strong support; holding above this could confirm a trend reversal.
- MACD Indicator: Turning bullish, indicating potential upside continuation.
Final Takeaway: Is HCC Set for a Bigger Rally?
HCC’s impressive contract win has reignited market interest, and with strong technical momentum, the stock could be gearing up for a sustained breakout. If it clears ₹28.34 convincingly, bulls might push for ₹35+ levels in the near term.
But if momentum stalls, ₹22.53 support will be key. Either way, with India’s infrastructure boom in full swing, HCC seems ready to ride the wave—and investors are paying close attention!
The post HCC Shares Rally Again as ₹2,470 Crore Tata Power Deal Fuels Optimism appeared first in UK on InvestingCube.